Sonovate, a payments management platform for business invoices, has been recognized as the Fintech Company of the Year at the Fintech Award Wales at the Tramshed Cardiff.
According to a release, six companies were shortlisted for the award, sponsored by Cardiff Capital Region. The award recognizes Sonovate’s achievements as one of the UK’s most established and scalable Fintechs.
Sonovate was also recently the winner of the Talent Tech Scale Up Award, supported by Deloitte, at the 2021 TIARA Talent Tech Star Awards.
Sonovate was predicted to be the first Fintech ‘unicorn’ in Wales, according to a report by the UK government’s Digital Economy Council and data firm Dealroom.co.
Richard Prime, co-founder and co-CEO at Sonovate, said that winning the award was an incredible honor:
“…especially from an organisation such as Fintech Award Wales devoted to celebrating the growing and talented Welsh fintech community. This recognition highlights the key role Sonovate played in keeping the contract labour market moving despite the economic shock of the crisis, providing significant benefits to an ever-growing pool of contractors and freelancers around the world.”
Sarah Williams-Gardener, CEO at membership body Fintech Wales, said:
“It’s great to be able to recognise Welsh excellence in the fintech industry – we extend a huge congratulations to Sonovate on this achievement and wish them every success as they continue to hit and surpass key milestones. As it stands, Wales is among the top ten clusters producing the UK’s high growth fintechs, according to the much-anticipated Kalifa Review. It’s therefore really exciting to see a Wales-headquartered fintech such as Sonovate scaling and broadening its reach across the world, helping an increasing number of businesses to pay their people on time.”
Sonovate reports that 2020 has been a record-breaking year in terms of funding and revenue, witnessing strong growth in the 20 months since the start of the pandemic. As a result, the company has accelerated its recruitment drive in Cardiff and plans to increase its headcount from 108 to 150 by the end of the year.